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Monday, April 21, 2008

Texas Instruments (TXN) 1Q:2008 Results

Texan reports basically in line for the current Q and guides next Q to a range of 3.2 bil to 3.5 bil with EPS of 42-48 cents. Though I'm directionally correct, I thought they'd be more conservative in light of the wireless inventory correction I see coming for them. Regardless, I think this stock will trade to the mid-20s over the next several weeks.

Texan blamed the economy. I blame an overly optimistic distributor channel and a brewing inventory problem in low end handsets. Tomato, tomahto.

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